The picture is clear as IQ Capital and ParkWalk invest in Spectral Edge Limited

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Mills and Reeve LLP

24 April 2018

Mills & Reeve advises on a $4.5m investment in Spectral Edge by IQ Capital Partners and Parkwalk Advisors.

Working with longstanding client IQ Capital Partners LLP and new client to the firm, Parkwalk Advisors, Mills & Reeve has just finalised a $4.5 million investment into Spectral Edge, as part of a $5.3 million investment round.

Spectral Edge develops image fusion and colour perception technologies which enhance images and video for a wide range of computer electronic devices including smartphones and tablets.  The Cambridge company was a spin-out from the University of East Anglia and now comprises a world class team with over 100 years’ experience in imaging R&D.

Mills & Reeve have been working with IQ Capital Partners for many years. IQ Capital Partners specialise in backing cutting-edge IP-rich technology businesses which push the boundaries but which also have proven track records of experiencing stable growth.  The team also acted for Parkwalk Advisers, a London-based fund management firm that manages a series of investment-driven venture capital funds seeking capital appreciation, with the added advantages to investors of the tax reliefs offered under the Enterprise Investment Scheme (EIS).  Parkwalk’s investment came from one of their EIS funds and a number of business angels also invested as part of this round.

Both ParkWalk and IQ Capital were following on their original investments in Spectral Edge made more than 18 months ago.  Max Bautin, Managing Partner at IQ Capital Partners said:  “Spectral Edge continues to pioneer in the imaging sector, with market opportunities across a broad range of sectors. We are proud to have Spectral Edge within our portfolio of deep tech companies, all developing leading-edge AI and generating strong IP.”

Moray Wright, COO of Parkwalk said: “We’ve been very impressed with Spectral Edge’s technology development and commercial progress in a rapidly growing market and were keen to co-lead this round. The funds will provide vital working capital to support the continued scale up of this business.  Moray went on to say “we were pleased to have had the opportunity to work with the Mills & Reeve team, having worked on a number of other deals they have been involved with over the years.  Their strong track record of advising institutional investors on their growth investments and their in-depth knowledge of working with technology driven businesses, made them the perfect choice on this transaction.”

Zickie Lim, Partner at Mills & Reeve said: “We were delighted to work with our existing client, IQ Capital, and to have the chance to work with new client, Parkwalk Advisers.  It’s great also to be able to play a part in the success of Spectral Edge, a true pioneer in the field of photography which is disrupting and transforming the imaging sector.”

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